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- Mar 8, 2024
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A German-based global strategy consulting firm, Roland Berger Strategy Consultants, had conducted a survey on the Small Commercial Vehicle (SCV) industry. Based on the findings of the survey, the firm reported that the SCV industry is expected to grow a good 13 per cent Compound Annual Growth Rate (CAGR) till Financial Year (FY) 2020, accounting for 80 per cent of the total market sales.
The study reveals that Tata Motors and Mahindra & Mahindra continue to be the top players in the industry. The SCV segment was established in 2005 with the launch of Tata ACE Truck in the sub two ton category, which has grown considerably since then. This segment grew by 30 per cent CAGR between 2010 and 2012, and it declined only by one per cent CAGR over the last two years, while the overall industry declined by approximately 11 per cent CAGR, during the same time.
Commenting on these findings, Wilfried Aulbur, Managing Partner, Roland Berger Strategy Consultants India, said, “The SCV segment has outperformed all the other Commercial Vehicles segments and now accounts for more than 60 per cent of the industry. OEMs in the SCV segment need to focus on creating the demand for SCVs by developing newer applications. They also need to understand their customers’ needs and liaise with government authorities in order to further promote SCV Passengers.”
The study also reveals that the future of this segment depends significantly on the rise of unique applications of the vehicles. Original Equipment Manufacturers (OEMs) can augment the current demand by continuously developing newer applications and educating the customers on the benefits of using SCVs. Such applications can facilitate market expansion by introducing newer customers to the SCV segment. Poultry, milk and water distribution industries are some of the new applications that have been witnessed over the last few years.
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